Sweden’s state-owned gaming operator Svenska Spel has shut down its last remaining land-based casino in Stockholm after more than twenty years of operation.
Following the Swedish government’s recent decision to abolish state-owned casinos, Svenska Spel received an amended ownership instruction from the Riksdag last week, with the company deciding to permanently close its last casino in Stockholm with immediate effect.
“Earlier today, we gathered all employees and announced that we have closed the casino and will not reopen,” said Casino Cosmopol CEO Ola Enquist on Friday. “It has been known for some time that the ownership instruction would be changed and our focus is now on our employees to help them take the next step in their professional lives.
“We have initiated a union dialogue about the closure so that it will be as good as possible for everyone. Just as we did with the closures in Malmö and Gothenburg, we will organize a career fair for our employees in Stockholm with several invited companies.”
Casino Cosmopol has approximately 240 employees who are affected by the closure.
“Although we share the assessment of the Riksdag and the government, it is emotionally tough because an era has ended when we have now closed the casino in Stockholm,” continued Enquist. “As an employer, we will do everything we can to support our fantastic employees.
“From a business perspective, it is the right decision to close immediately because the operations have been at a loss for a long time. I would like to take this opportunity to thank all the guests and teams who have worked in Stockholm over the years.”
Suffering from declining profitability and visitor numbers for several years as more people choose to play online, Svenska Spel closed its Sundsvall casino in 2020, followed by its casinos in Gothenburg and Malmö in February 2024.
Svenska Spel president and CEO Anna Johnson commented: “For over 20 years, Casino Cosmopol has offered an international casino experience to guests from all over the world. It is sad for our employees that the last casino has now closed, but at the same time it will give us the opportunity to focus on growth in our other businesses.”
A sale process for the K-labeled casino property at Kungsgatan 65 has begun.
In the first quarter of 2025, Svenska Spel posted a 4 per cent drop in net gaming revenue to SEK1.88 billion (approx. €171.8 million), as revenue from Casino Cosmopol declined by 61 per cent to just SEK26 million. The company’s Sport & Casino segment, which includes online casino gaming, recorded marginal growth to SEK551 million.